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• Brazil's WTO Case Against the U.S. Cotton Program: A Brief Overview [March 17, 2009]

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  This Congressional Research Service (CRS) report discusses Brazil's case against the United States regarding cotton subsidies. "On March 3, 2009, at a meeting of the World Trade Organization's (WTO's) Dispute Settlement Body (DSB) in Geneva, Brazil claimed the right to impose $2.5 billion in retaliatory sanctions against the United States in its long-running case against certain U.S. cotton subsidies. […] This report provides a brief overview of Brazil's case against the U.S. cotton program, the evolution and current status of the case, and the potential role for Congress. For a more detailed discussion of the U.S.-Brazil WTO dispute settlement case, see CRS Report RL32571, 'Brazil's WTO Case Against the U.S. Cotton Program', by Randy Schnepf. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2009-03-17
• Dairy Provisions in the 2014 Farm Bill (P.L. 113-79) [April 2, 2014]

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  From the Introduction: "This report describes the major dairy provisions contained in the 2014 farm bill as well as Congressional Budget Office (CBO) cost projections of historical program outlays compared with outlays under the new dairy programs. The report also includes a discussion of potential issues related to the new dairy policies. Finally, a table at the end of this report (Table A-1) provides a side-by-side comparison of dairy provisions from the 2008 and 2014 farm bills. Reaching a final compromise on U.S. dairy policy, as contained in the 2014 farm bill, was a long and arduous task involving considerable debate over what the nature and role of federal support programs should be. The following section provides background on the shift of federal support from dairy product prices to the dairy operating margin."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2014-04-02
• Previewing a 2007 Farm Bill [Updated January 3, 2007]

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  "Federal farm support, food assistance, agricultural trade, marketing, and rural development policies are governed by a variety of separate laws. However, many of these laws periodically are evaluated, revised, and renewed through an omnibus, multi-year 'farm bill.' The Farm Security and Rural Investment Act of 2002 (P.L. [Public Law] 107-171) was the most recent omnibus farm bill, and many of its provisions expire in 2007, so reauthorization is expected to be addressed in the first session of the 110th Congress. The heart of every omnibus farm bill is farm income and commodity price support policy -- namely, the methods and levels of support that the federal government provides to agricultural producers. However, farm bills typically include titles on agricultural trade and foreign food aid, conservation and environment, forestry, domestic food assistance (primarily food stamps), agricultural credit, rural development, agricultural research and education, and marketing-related programs. Often, such 'miscellaneous' provisions as food safety, marketing orders, animal health and welfare, and energy are added. This omnibus nature of the farm bill creates a broad coalition of support among sometimes conflicting interests for policies that, individually, might not survive the legislative process. The scope and direction of a new farm bill may be shaped by such factors as financial conditions in the agricultural economy, competition among various interests, international trade obligations, and -- possibly most important -- a tight limit on federal funds."

  Library of Congress. Congressional Research Service

  Womach, Jasper; Becker, Geoffrey S.; Chite, Ralph M. . . .

  2007-01-03
• 2014 Farm Bill Provisions and WTO Compliance [April 22, 2015]

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  "The enacted 2014 farm bill (Agricultural Act of 2014; P.L. 113-79) could result in potential compliance issues for U.S. farm policy with the rules and spending limits for domestic support programs that the United States agreed to as part of the World Trade Organization's (WTO's) Uruguay Round Agreement on Agriculture (AoA). In general, the act's new farm safety net shifts support away from classification under the WTO's green/amber boxes and toward the blue/amber boxes, indicating a potentially more market-distorting U.S. farm policy regime. The 2014 farm bill eliminates many of the support programs of the 2008 farm bill (P.L. 110-246) and replaces them with several new 'shallow-loss' programs, addressing relatively small shortfalls in farm revenue-Agricultural Risk Coverage (ARC), Supplemental Coverage Option (SCO), and Stacked Income Protection Plan (STAX)-as well as a revamped counter-cyclical price support program, Price Loss Coverage (PLC), that relies on elevated support prices. Among the safety net programs, only the marketing loan program and the U.S. sugar program were extended unchanged. The sugar program will continue to count for $1.4 billion against the current U.S. limit of $19.1 billion for non-exempt, trade-distorting amber box outlays."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2015-04-22
• 2014 Farm Bill Provisions and WTO Compliance [December 8, 2014]

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  From the report summary: "The enacted 2014 farm bill (Agricultural Act of 2014; P.L. 113-79) could result in potential compliance issues for U.S. farm policy with the rules and spending limits for domestic support programs that the United States agreed to as part of the World Trade Organization's (WTO's) Uruguay Round Agreement on Agriculture (AoA). In general, the act's new farm safety net shifts support away from classification under the WTO's green/amber boxes and toward the blue/amber boxes, indicating a potentially more market-distorting U.S. farm policy regime. [...] Perhaps more relevant to U.S. agricultural trade is the concern that, because the United States plays such a prominent role in most international markets for agricultural products, any distortion resulting from U.S. policy would be both visible and vulnerable to challenge under WTO rules. Furthermore, projected outlays under the new 2014 farm bill's shallow-loss and counter-cyclical price support programs may make it difficult for the United States to agree to future reductions in allowable caps on domestic support expenditures and related 'de minimis' exclusions, as envisioned in ongoing WTO multilateral trade negotiations."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2014-12-08
• Dairy Policy Proposals in the Next Farm Bill [October 22, 2013]

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  From the Introduction: "This report first briefly describes existing U.S. dairy programs. Then the dairy programs proposed in the 113th Congress's Senate- and House-passed farm bills are discussed and compared. Several examples of how the proposed dairy programs might operate for an individual dairy operation are provided in the text. The report also includes Congressional Budget Office (CBO) cost projections of historical program outlays compared with the proposed new dairy programs under both bills, and a summary of academic analyses of potential market effects of the proposed dairy policies. Finally, the report includes an appendix that discusses disagreement over the market stabilization component of proposed new dairy policy and compares it with previous forms of supply management intervention in the U.S. dairy sector."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2013-10-22
• WTO Doha Round: Agricultural Negotiating Proposals [November 9, 2005]

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  "This report provides background information on the WTO [World Trade Organization], the Doha Round, the key negotiating groups, and a schedule of historical and upcoming events relevant to the agricultural negotiations; reviews the agreements reached in the July 2004 framework and identifies issues that remain to be resolved by the Hong Kong Ministerial in December; discusses and compares the major agricultural negotiating proposals; and discusses the potential effects of an agricultural agreement on U.S. farm policy. The report will be updated."

  Library of Congress. Congressional Research Service

  Hanrahan, Charles; Schnepf, Randall Dean, 1954-

  2005-11-09
• WTO Doha Round: The Agricultural Negotiations [Updated January 12, 2006]

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  "This report assesses the current status of agricultural negotiations in the Doha Round; traces the developments leading up to the Hong Kong Ministerial; examines the major agricultural negotiating proposals; discusses the potential effects of a successful Doha Round agreement on global trade, income, U.S. farm policy, and U.S. agriculture; and provides background on the WTO [World Trade Organization], the Doha Round, the key negotiating groups, and a schedule of historical and upcoming events relevant to the agricultural negotiations. The report will be updated."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2006-01-12
• Farm Safety Net Proposals in the 112th Congress [June 1, 2012]

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  "In advance of the expiration of the 2008 farm bill (P.L. [Public Law] 110-246), numerous proposals have been offered to revise the 'farm safety net' for producers of crops covered by farm commodity support programs. Farm safety net proposals by Members of Congress, the Administration, and a number of farm and interest groups surfaced mostly during fall 2011, when budget deliberations by the Joint Select Committee on Deficit Reduction generated concerns that a new farm bill might be 'written' or severely constrained from a budgetary perspective by budget negotiators, rather than by the House and Senate Agriculture Committees. Ultimately, the joint committee failed to reach a bipartisan consensus on deficit reduction. Nevertheless, the joint committee process generated substantial movement toward reshaping the policy framework underlying the farm safety net and other major farm bill issue areas, such as conservation and nutrition. Since early 2012, legislation for the next farm bill has followed a more traditional process, starting with committee hearings prior to expiration of the 2008 farm bill (generally September 2012, but for commodity program crops, prior to the 2013 harvest). Many proposals with policy changes and proposed cuts have been directed at commodity programs and crop insurance, because these programs account for the bulk of agricultural funding (excluding conservation and nutrition programs, which are also considered part of the agricultural budget)."

  Library of Congress. Congressional Research Service

  Shields, Dennis A.; Schnepf, Randall Dean, 1954-

  2012-06-01
• Status of the WTO Brazil-U.S. Cotton Case [December 12, 2013]

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  "The so-called 'Brazil cotton case' is a long-running World Trade Organization (WTO) dispute settlement case (DS267) initiated by Brazil--a major cotton export competitor--in 2002 against specific provisions of the U.S. cotton program. In September 2004, a WTO dispute settlement panel ruled that (1) certain U.S. agricultural support payments for cotton distorted international agricultural markets and should be either withdrawn or modified to end the market distortions; and (2) U.S. Step-2 payments and agricultural export credit guarantees for cotton and other unscheduled commodities were prohibited under WTO rules and should be withdrawn. […] Both Brazil and the United States have hoped that the WTO cotton dispute would be resolved definitively within the context of the next U.S. farm bill. In this regard, both the Senate-passed (S. 954) and House-passed (H.R. 2642) 2013 farm bills are in agreement over proposed changes to U.S. cotton support programs--cotton would no longer be included as a major program commodity, thus losing eligibility for certain price and income support programs proposed in Title I of the farm bill. Instead, those programs would be replaced by a new cotton program comprised of a stand-alone, county-based revenue insurance policy called the Stacked Income Protection Plan (STAX). The House- and Senate-passed farm bills are presently in conference to resolve differences. While a new farm bill might address issues related to the WTO Brazil-U.S. cotton case from a U.S. perspective, Brazil still retains substantial authority in making a final determination regarding the compliance of any policy changes to U.S. cotton support programs."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2013-12-12
• Farm Policy: USDA's 2018 Trade Aid Package [Updated June 19, 2019]

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  From the Introduction: "In early 2018, the Trump Administration--citing concerns over national security and unfair trade practices--imposed increased tariffs on certain imported products in general and on U.S. imports from China in particular. Several of the affected foreign trading partners responded to the U.S. tariffs with their own retaliatory tariffs targeting various U.S. products, especially agricultural commodities. On July 24, 2018, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would be taking several temporary actions to assist farmers in response to trade damage from what the Administration has characterized as 'unjustified retaliation.' Specifically, USDA would authorize up to $12 billion in financial assistance--referred to as the 'trade aid' package--for certain agricultural commodities under Section 5 of the Commodity Credit Corporation (CCC) Charter Act (15 U.S.C. 714c). [...] This report provides background on the trade dispute that triggered the trade-aid package as well as the authority used by USDA to respond to the trade dispute with financial assistance. Then the report describes the three components of the trade-aid package with details on their implementation."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-; Monke, James; Stubbs, Megan . . .

  2019-06-19
• U.S. International Food Aid Programs: Background and Issues [April 1, 2015]

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  "For almost six decades, the United States has played a leading role in global efforts to alleviate hunger and malnutrition and to enhance world food security through international food aid assistance--primarily through either the donation or sale on concessional terms of U.S. agricultural commodities. Objectives of U.S. foreign food aid include providing emergency and humanitarian assistance in response to natural or manmade disasters and promoting agricultural development and food security. Historically, U.S. international food aid has been distributed through four main program authorities: (1) the Food for Peace Act (FFPA, also known as P.L. 480); (2) the Section 416(b) program (which has been inactive since 2007); (3) the Food for Progress Act of 1985; and (4) the McGovern-Dole International Food for Education and Child Nutrition Program. Since 2010, the U.S. Agency for International Development (USAID) has also used its authority under the Foreign Assistance Act of 1961 (FAA) to initiate cash-based food assistance under the Emergency Food Security Program (EFSP) as a complement to FFPA Title II emergency in-kind food aid donations. In addition, the 2014 farm bill (P.L. 113-79) added the local and regional purchase project which also relies on cash-based assistance. These six food assistance programs are administered either by the Foreign Agricultural Service of the U.S. Department of Agriculture (USDA) or USAID. The Section 416(b) program is permanently authorized by the Agricultural Act of 1949. EFSP is authorized through the FAA. The other programs are re-authorized in periodic farm bills; most recently (through FY2018) by the 2014 farm bill."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2015-04-01
• International Food Aid Programs: Background and Issues [June 23, 2014]

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  "For almost six decades, the United States has played a leading role in global efforts to alleviate hunger and malnutrition and to enhance world food security through international food aid assistance--primarily through either the sale on concessional terms or the donation of U.S. agricultural commodities. Foreign food aid assistance accounts for about 4% of total U.S. foreign aid each year, with economic and military assistance accounting for most outlays. The objectives of foreign food aid include providing emergency and humanitarian assistance in response to natural or manmade disasters, and promoting agricultural development and food security. […] While the 2014 farm bill made some modest changes to existing U.S. food aid programs, the Administration (as part of the annual appropriations process) and bipartisan bills in both the House (H.R. 1983) and Senate (S. 2421) have proposed making more sweeping 'reforms' to both the structure and intent of U.S. food aid programs. Changes would include eliminating cargo preference (i.e., legislation requiring use of U.S.-flag vessels for shipping food aid) and monetization (the process of selling U.S. commodities in recipient-country markets to generate cash for development activities), while expanding flexibility in the use of cash-based forms of assistance."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2014-06-23
• International Food Aid Programs: Background and Issues [May 28, 2014]

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  "For almost six decades, the United States has played a leading role in global efforts to alleviate hunger and malnutrition and to enhance world food security through international food aid assistance--primarily through either the sale on concessional terms or the donation of U.S. agricultural commodities. Foreign food aid assistance accounts for about 4% of total U.S. foreign aid each year, with economic and military assistance accounting for most outlays. The objectives of foreign food aid include providing emergency and humanitarian assistance in response to natural or manmade disasters, and promoting agricultural development and food security. […] While the 2014 farm bill made some modest changes to existing U.S. food aid programs, the Administration had proposed making more sweeping 'reforms' to both the structure and intent of U.S. food aid programs as part of its FY2014 budget request. The proposals included shifting funds from Food for Peace to three USAID [U.S. Agency for International Development] accounts, eliminating the monetization procedure, providing greater flexibility to procure commodities in local and regional markets overseas, and reducing the volume of commodities subject to cargo preference legislation. USDA and USAID continue to advocate for the Administration's reform agenda, and the President has reintroduced a revised version of his reform proposal in his FY2015 budget request. These reform proposals are being debated as part of the annual appropriations process."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2014-05-28
• Obama Administration's Feed the Future Initiative [January 29, 2016]

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  From the Summary: "The Obama Administration's Feed the Future (FTF) Initiative is a U.S. international development program launched in 2010 that invests in food security and agricultural development activities in a select group of developing countries in an effort to reduce hunger, malnutrition, poverty, and food insecurity. The bulk of FTF funding supports 19 'focus countries' selected based on country ownership potential, needs, and opportunities to achieve success. FTF supports additional countries under aligned and regional programs and through assistance to three 'strategic partners'--Brazil, India, and South Africa--to increase regionally based sustainable development capacities."

  Library of Congress. Congressional Research Service

  Lawson, Marian Leonardo; Schnepf, Randall Dean, 1954-; Cook, Nicolas

  2016-01-29
• NASS and U.S. Crop Production Forecasts: Methods and Issues [April 13, 2017]

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  "This report provides an overview of NASS [National Agricultural Statistics Service]. First, it reviews the origins, legislative authority, and funding for NASS. Then, the report describes the survey methodology used by NASS to generate crop production forecasts and estimates for U.S. crops at both the state and national level. Third, this report describes the systematic evolution that occurs over the course of a growing season for both the survey methodology and the annual sequence of NASS reports that are used to convey the crop production forecasts to the U.S. agricultural sector. Fourth, this report describes how NASS survey methodology is extended to collect county-level crop area and yield estimates. This fourth section also includes a discussion of emergent issues related to low producer response rates to NASS surveys and the subsequent discrepancies in neighboring county yield estimates and farm program payments. Finally, the report discusses how evidence on market price reaction to USDA [U.S. Department of Agriculture] crop production forecasts indicates that there is no visible pattern of bias or error."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2017-04-13
• U.S. International Food Aid Programs: Background and Issues [September 14, 2016]

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  "For almost six decades, the United States has played a leading role in global efforts to alleviate hunger and malnutrition and to enhance world food security through international food assistance-traditionally through either the donation or sale on concessional terms of U.S. agricultural commodities but in recent years also by direct cash transfers targeting emergency situations and by investing in host-country nutrition and agricultural development activities. Historically, U.S. international food assistance has been distributed through four main program authorities: (1) the Food for Peace Act (FFPA, also known as P.L. 480); (2) the Section 416(b) program (which has been inactive since 2007); (3) the Food for Progress Act of 1985; and (4) the McGovern-Dole International Food for Education and Child Nutrition Program. [...] Since FY2006, annual spending on U.S. international food assistance programs has averaged $2.5 billion, with FFPA Title II outlays averaging $1.8 billion (74%). Despite growth in cash-based assistance under EFSP, the United States continues to rely heavily on in-kind transfers of domestic commodities for international food aid. In contrast, most other countries operating international food aid programs have converted primarily to cash-based food assistance. U.S. reliance on in-kind food aid has become controversial due to its identified inefficiencies and potential market distortions compared with cash-based assistance. In addition to domestic sourcing, U.S. food aid is subject to a suite of legislative requirements that potentially limit the U.S. response to emergency food crises."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2016-09-14
• WTO Disciplines on U.S. Domestic Support for Agriculture [September 19, 2018]

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  "Trade is critical to the U.S. agricultural sector: Exports account for about 20% of total U.S. agricultural production. Some commodities--such as cotton, wheat, and soybeans--have export shares of nearly 50% or greater. As a member of the World Trade Organization (WTO), the United States has committed to abide by WTO rules and disciplines, including those that govern domestic farm policy."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2018-09-18
• Farm Safety-Net Payments Under the 2014 Farm Bill: Comparison by Program Crop [August 11, 2017]

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  "The U.S. Department of Agriculture (USDA) operates several programs that supplement the incomes of farmers and ranchers in times of low farm prices and helps them to manage risks associated with natural disasters and with variability in crop and pasture yields and commodity prices. These programs--referred to as the 'farm safety net'--include three components: federal crop insurance, farm revenue support programs, and agricultural disaster assistance. Over the years substantial federal resources have been spent in support of the farm safety net. Much of this spending has gone to a small group of field crops. Within this group of field crops, there has been significant variation in both absolute and relative levels of historical farm support. The 2014 farm bill (Agricultural Act of 2014, P.L. 113-79) changed the structure of several safety-net programs; however, important differences in commodity-specific funding persist."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2017-08-11
• Potential WTO Implications of USDA's Proposed Response to Trade-Retaliation [July 27, 2018]

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  "On July 24, 2018, Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) would be taking several actions to assist farmers in response to trade damage from what the Administration has characterized as 'unjustified retaliation.' Specifically, the Secretary said that USDA would authorize up to $12 billion in programs under the Commodity Credit Corporation (CCC) Charter Act (See CRS Report R44606, The Commodity Credit Corporation: In Brief) to help agricultural producers meet the costs of disrupted markets. (See CRS Insight IN10880, China's Retaliatory Tariffs on Selected U.S. Agricultural Products.) Due to its price tag ($12 billion) and the uncertainty over how payments will be implemented, there is considerable interest from policymakers and market watchers about whether these payments will be fully compliant with World Trade Organization (WTO) commitments. This Insight briefly discusses the WTO commitments that are relevant to U.S. domestic support programs and how the newly announced U.S. trade retaliation assistance program may or may not comply with those WTO commitments."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2018-07-27
• WTO Disciplines on U.S. Domestic Support for Agriculture [Updated June 3, 2019]

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  From the Document: "Trade is critical to the U.S. agricultural sector: Exports account for about 20% of total U.S. agricultural production. Some commodities--such as cotton, wheat, and soybeans--have export shares of nearly 50% or greater. As a member of the World Trade Organization (WTO), the United States has committed to abide by WTO rules and disciplines, including those that govern domestic farm policy."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2019-06-03
• U.S. Farm Income [August 30, 2013]

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  "The U.S. farm sector is vast and varied. It encompasses production activities related to traditional field crops (such as corn, soybeans, wheat, and cotton) and livestock and poultry products (including meat, dairy, and eggs), as well as fruits, tree nuts, and vegetables. In addition, U.S. agricultural output includes greenhouse and nursery products, forest products, custom work, machine hire, and other farm-related activities. The intensity and economic importance of each of these activities, as well as their underlying market structure and production processes, vary regionally based on the agro-climatic setting, market conditions, and other factors. As a result, farm income and rural economic conditions may vary substantially across the United States. However, this report focuses singularly on aggregate national net farm income and the farm debt-to-asset status as reported by the U.S. Department of Agriculture (USDA). Annual U.S. net farm income is the single most watched indicator of farm sector well-being, as it captures and reflects the entirety of economic activity across the range of production processes, input expenses, and marketing conditions that have persisted during a specific time period. When national net farm income is reported together with a measure of the national farm debt-to-asset situation, the two summary statistics provide a quick indicator of the economic well-being of the national farm economy."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2013-08-30
• U.S. Farm Income [February 28, 2014]

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  "According to USDA's Economic Research Service (ERS), national net farm income--a key indicator of U.S. farm well-being--is forecast at $95.8 billion in 2014, down 27% from last year's record $130.5 billion. The 2014 forecast would be the lowest since 2010, but would remain $8 billion above the previous 10-year average. The forecast for lower net farm income and net cash income is primarily a result of the outlook for lower crop receipts and government payments. In contrast, livestock returns are forecast to be steady to slightly higher. The 2014 farm bill […] eliminated direct payments of nearly $5 billion per year, while market prices for program crops--despite their plunge since late 2013--are expected to remain above trigger levels for price-contingent programs, thus keeping government program support at historically low levels in 2014. […]These data suggest a strong financial position heading into 2014 for the agricultural sector as a whole relative to the rest of the U.S. economy, but with substantial regional variation. Declining prices for most major program crops signal tougher times ahead. Eventual 2014 agricultural economic well-being will hinge greatly on the final crop harvests and harvest-time prices, as well as both domestic and international macroeconomic factors, including economic growth and consumer demand."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2014-02-28
• U.S. Farm Income [December 3, 2013]

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  "The U.S. farm sector is vast and varied. It encompasses production activities related to traditional field crops (such as corn, soybeans, wheat, and cotton) and livestock and poultry products (including meat, dairy, and eggs), as well as fruits, tree nuts, and vegetables. In addition, U.S. agricultural output includes greenhouse and nursery products, forest products, custom work, machine hire, and other farm-related activities. The intensity and economic importance of each of these activities, as well as their underlying market structure and production processes, vary regionally based on the agro-climatic setting, market conditions, and other factors. As a result, farm income and rural economic conditions may vary substantially across the United States. However, this report focuses singularly on aggregate national net farm income and the farm debt-to-asset status as reported by the U.S. Department of Agriculture (USDA). Annual U.S. net farm income is the single most watched indicator of farm sector well-being, as it captures and reflects the entirety of economic activity across the range of production processes, input expenses, and marketing conditions that have persisted during a specific time period. When national net farm income is reported together with a measure of the national farm debt-to-asset situation, the two summary statistics provide a quick indicator of the economic well-being of the national farm economy."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2013-12-03
• U.S. Farm Income Outlook for 2017 [October 4, 2017]

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  "According to USDA's Economic Research Service (ERS), national net farm income--a key indicator of U.S. farm well-being--is forecast at $63.4 billion in 2017, up 3% from last year. The forecast rise in 2017 net farm income comes after three consecutive years of decline from 2013's record high of $123.8 billion. Net farm income is calculated on an accrual basis. Net cash income (calculated on a cash-flow basis) is also projected to be up in 2017 but by a larger share (12.6%), driven largely by sales from previous years' inventory, to $100.4 billion. The 2017 net farm income forecast is substantially below the 10-year average of $86.4 billion and would be the second lowest since 2003 in inflation-adjusted dollars. This is primarily the result of the outlook for continued weak prices for corn, soybeans, and cotton. Most crops and livestock product prices remain significantly below the average for the period of 2011-2013, when prices for many major commodities attained record or near-record highs. Net farm income is down 49% since 2013; net cash income is down 26%. Farm-sector production expenses have fallen slightly over that period (-1%) but not nearly as quickly as commodity prices and revenue, thus contributing to lower aggregate income totals."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2017-10-07
• U.S. Farm Income Outlook for 2016 [February 16, 2016]

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  "According to USDA's Economic Research Service (ERS), national net farm income--a key indicator of U.S. farm well-being--is forecast at $54.8 billion in 2016, down 3% from last year. The 2016 forecast represents the third consecutive year of decline and would be the lowest since 2002 in both nominal and inflation-adjusted dollars. Net farm income is calculated on an accrual basis. Net cash income (calculated on a cash-flow basis) is also projected lower in 2016, down 2.5% to $90.9 billion. The forecast for lower net farm income and net cash income is the result of the outlook for lower crop and livestock receipts--down a combined 2.5% ($9.6 billion). The fall in cash receipts reflects continued declines in prices for most commodities compared with the period of 2011-2013, when prices for many major commodities experienced record or near-record highs. Partially offsetting the decline in farm revenues is a mild decline of about 3% in farm cash expenses. In addition, government payments are projected up by 31% to $13.9 billion. The 2014 farm bill (Agricultural Act of 2014; P.L. 113-79) eliminated direct payments of nearly $5 billion per year and replaced them with a new suite of revenue support programs. In particular, the new Price Loss Coverage (PLC) and Agricultural Risk Coverage (ARC) programs are expected to trigger payments in excess of $9 billion in 2016."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2016-02-16
• U.S. Farm Income [August 29, 2014]

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  "According to USDA's Economic Research Service (ERS), national net farm income--a key indicator of U.S. farm well-being--is forecast at $113.2 billion in 2014, down 14% from last year's record $131.3 billion. The 2014 forecast would be the lowest since 2010, but would remain $25 billion above the previous 10-year average. [...] At the farm-household level, average farm household incomes have surged ahead of average U.S. household incomes since the late 1990s. In 2012 (the last year for which comparable data were available), the average farm household income of $108,844 was about 53% higher than the average U.S. household income of $71,274. These data suggest a strong financial position heading into 2015 for the agricultural sector as a whole relative to the rest of the U.S. economy, but with substantial regional variation. However, declining prices for most major program crops signal tougher times ahead, and considerable uncertainty surrounds producer participation in the new safety net programs of the 2014 farm bill. Eventual 2014 agricultural economic well-being will hinge greatly on the final crop harvests and harvest-time prices, as well as both domestic and international macroeconomic factors, including economic growth and consumer demand."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2014-08-29
• U.S. Farm Income Outlook for 2015 [February 18, 2015]

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  "According to USDA's Economic Research Service (ERS), national net farm income--a key indicator of U.S. farm well-being--is forecast at $73.6 billion in 2015, down 32% from last year's level of $108.0 billion. The 2015 forecast would be the lowest since 2009. Net cash income is projected down 22.4% in 2015 to $89.4 billion. The forecast for lower net farm income and net cash income is primarily a result of the outlook for lower crop and livestock receipts--down a combined 6.3%. The fall in cash receipts comes despite record corn and soybean harvests in 2014, as commodity prices plunged in the last half of 2014 and are expected to remain at substantially lower levels compared with the period of 2012- 2014, when prices for many major program crops experienced record or near-record highs. Government payments are projected up by 15% to $12.4 billion, which partially offsets the $25.8 billion decline in crop and livestock receipts. The 2014 farm bill (Agricultural Act of 2014; P.L. 113-79) eliminated direct payments of nearly $5 billion per year and replaced them with a new suite of price and revenue support programs. In particular, the Price Loss Coverage (PLC) program replaced the previous Counter-Cyclical Price (CCP) program, but with a set of reference prices based on substantially higher support levels for most program crops."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2015-02-18
• U.S. Farm Economy [Updated April 17, 2008]

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  "According to USDA's Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise to a record $92.3 billion in 2008, over 4% above the previous year's record ($88.7 billion) on the strength of higher commodity prices, which are being driven by the outlook for continued strong domestic and international demand and sharply lower stocks for major grains and oilseeds.1 Consequently, the outlook for the U.S. farm economy as a whole is for another year of record profitability as projected record agricultural cash receipts of $313.2 billion (up $28 billion or 10%) more than offset record high production expenses of $279.2 billion. Government payments are projected up over 11% in 2008 at $13.7 billion. An increase in ad hoc and emergency program payments are expected to more than offset sharp declines in commodity program payments due to the projected rise in crop prices which, in turn, are expected to reduce price-triggered marketing loan benefits and counter-cyclical payments. Total farm asset value of $2,514 billion and total farm debt of $228 billion are both projected at record levels in 2007. However, the debt-to-asset ratio of 9.1% is down sharply from last year's value of 9.9% and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2008-04-17
• U.S. Farm Economy [Updated September 4, 2007]

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  "According to USDA's Economic Research Service (ERS), national net farm income -- a key indicator of U.S. farm well-being -- is expected to rise nearly 48% in 2007 on the strength of higher commodity prices, which, in turn, are being driven largely by the rapidly growing demand for corn as a feedstock in ethanol production.1 Net farm income is forecast at $87.1 billion, up from $59 billion in 2006, as projected record agricultural cash receipts of $276.4 billion (up $37.1 billion or 16%) more than offset record high production expenses (up $249.9 billion or 7%) and a decline of over $2 billion in government payments. Crop and livestock receipts are both projected to reach record levels in 2007 of $136.2 billion and $140.2 billion, respectively. Higher prices are behind the surge in both crop and livestock receipts. The projected rise in crop prices is expected to reduce price-triggered marketing loan benefits and counter-cyclical payments, leading to lower total government payments. Total farm asset value of $2,223 billion and total farm debt of $214 billion are both projected at record levels in 2007. However, the debt-to-asset ratio of 9.6% is down sharply from last year's value of 10.5% and represents the lowest level since 1960, suggesting a strong financial position for the agricultural sector as a whole. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Schnepf, Randall Dean, 1954-

  2007-09-04